3.3 million Americans file for jobless benefits as coronavirus causes economic shutdown

How bad will the spike in US layoffs be? We're about to find out

How bad will the spike in US layoffs be? We're about to find out

It's bad: Based on state data, Morgan Stanley thinks the U.S. government could announce Thursday that 3.4 million people filed for their first week of unemployment benefits last week.

The Department of Labor released the data on Thursday morning, showing there were 15,668 initial claims filed in Nebraska.

But that staggering leap in joblessness likely understates the full damage the coronavirus outbreak has inflicted on the US labor market, according to multiple economists.

Almost 3.3 million people registered to claim unemployment benefits for the week ended 21 March, according to Department of Labor data.

The Labor Department reported California's claims at 186,809 last week, and New York's at 80,334, with each of these trailing the almost 379,000 claims filed in Pennsylvania.

Additional information about the state's jobless claims, including regional and industry data, is forthcoming, the department said.

United Nations chief says virus menacing mankind, launches $2B plan
Fore, said that children are "the hidden victims of the COVID-19 pandemic". The exact needs of some countries are still being identified.

Revenue has collapsed at restaurants, hotels, movie theaters, gyms and airlines.

Earlier this week, Gov. Michelle Lujan Grisham ordered the closure of all "non-essential" businesses statewide.

"I'd guess, with the next month or two, we'll lose a third of the oil and gas workers", Peach said.

A new video from the Employment Department shows step-by-step details for filing an online claim.

Previously, the highest increase in unemployment claims came in October of 1982, when the Department of Labor saw an increase of 695,000 unemployment claims.

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